Hello traders. This is EUR/JPY, 1hr tf. As you can see we have a potential head and shoulders pattern. We still don’t have the right shoulder, and we may not get it, but in case we do, we need to be prepared because all of this can give a very strong signal to the bulls. If you look at the daily chart, you can see the bullish engulfing pattern and this can be used as a daily confirmation of the trade. Keep in mind that this pair is bullish at all higher time frames, so the recent bearish mood (three red candles) can only be considered as a retracement, which is totally normal for markets. Of course, anything can happen, so trade safe.